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Show It MINING SECTION $ tV East Antelope Reorganizes and Is Flush of Funds Also Rushes Development Work General Market News Last Saturday in Salt Lake, the final details of a deal that has been on the tapis for some weeks, were brought to a successful termination, by which 100,000 shares of treasury stock of the Antelope Star Mining Co. at ten cents per share, are turned into real money. The first payment of $10,000 has been made, and the company's treasury is now in a healthy condition. In addition 10 this sale 'of stock, a reorganization of the company has been effected, the new officers being A. C. Nebeker, president; A. A. Cheney, vice president; M. O. Hardy, secretary and treasurer; Noble War-rum, War-rum, Aqrila Nebeker and W. N. Williams, Wil-liams, together with the president and vice-president, form the directorate. direct-orate. The capital stock of the company, com-pany, is placed at 1,000,000 shares, par value 10 cents. The East Antelope is about ready to ship a car of copper ore. The ore-bed recently encountered at the end of the main tunnel, over three hundred feet from the opening, shows about eight feet wide and, apparently ap-parently of considerable body. The ore is averaging from 2 5 to 5 5 per cent. A force of eight men is at work and activities are at top notch. The company has uncovered the mineral outcroppings over the entire length of its property, making just sufficient suffic-ient excavation to show the mineralization mineral-ization and in this way, is able to more intelligently systematize its plan of workings. Galena ore, averaging av-eraging well over 35 per cent, is also being taken from the north side of the main tunnel, not far from the opening, and at a point about one hundred feet from the mouth. The winze to develop a strike of copper ore is already down to a depth suf-ficent suf-ficent to demonstrate very satisfactory satis-factory conditions. |
